The Council of the EU and the European Parliament have reached a last-minute agreement on the 2020 EU budget, on 18 November, focusing on growth and fighting climate change. The 2020 budget is the last annual spending plan of the Union’s seven-year budget.

Lawmakers and government officials from EU states agreed to spend €168.7 billion, of which 21% will go to climate. Total payments amount to €153.6 billion, a 3.4% increase from 2019.

“Next year’s budget strengthens support for the EU’s priority areas and best-performing programmes. It also ensures a realistic approach, taking into account the interests of taxpayers and the need to cater for new challenges that may arise in 2020. I would like to highlight in particular the move to further “green” the EU budget and ensure that it works in support of the EU’s climate agenda”, said Kimmo Tiilikainen, the Finnish Secretary of State and chief Council negotiator for the 2020 budget.

The budget envisages some €60 billion support for farmers, fisheries and biodiversity and almost €59 billion to reduce economic differences between EU regions. Almost €25 billion will go to support research and innovation, youth education programmes, small and medium businesses and Europe’s Galileo satellite scheme. Another €14 billion will finance EU security, humanitarian aid and the newly created European border guard.

This year, the negotiations for the 2020 budget were parallel to the negotiations of the EU’s next long-term budget for the period 2021-2027.

“We should now focus on a timely adoption of the next long-term budget so that we can provide certainty and stability for our beneficiaries and continue creating an EU added value for all”, said Günther Oettinger, EU Commissioner for budget and human resources.